TPG private equity companies are reported in talks with the Tata Group to invest at least $ 1 billion in Electric Vehicle Business (EV) Tata Motors.

TPG investment can even be increased to $ 1.5 billion and can appreciate the Division of EV Tata Motors at $ 8-9 billion, according to media reports. MoneyControl cannot independently verify the report

The quantum of final investment and assessment has not been sealed, “the report quoted the sources that said and added that the formal announcement was expected later this month.

Tata Group also held a discussion with some Sovereign (SWF) wealth funds in West Asia such as the Abu Dhabi investment authority and Saudi Arabia PIF.

According to reports, the SWF will get a smaller allocation and TPG is expected to be an “anchor investor”.

Tata Motors has also reached the California Public Pension System (Calpers), the report said.

Tata Sons, Tata Motors and TPG refused to comment. Mail to Adia, PIF and Calpers did not produce a response.

Tata Motors is in the process of completing the subsidiary program from the passenger vehicle business (PV), paving the way for onboarding partners.

The PV division, who looked into the development, manufacture, distribution and sale of cars, SUVs and vans, are inhabited into separate entities that allow companies to sell their shares to strategic partners.

With the plan to postpone the vehicle and electrification of passenger vehicles ranged – both below the brand name and under Jaguar Land Rover – Tata Motors is undergoing its biggest shock.